ProfitCents

ProfitCents, developed by Abrigo, is a suite of online tools designed to assist financial advisors in enhancing the financial performance of their business clients. According to the vendor, the software offers a range of features that enable advisors to compare client performance, optimize cash flow, streamline analytics, and scale valuation services. ProfitCents is specifically tailored for financial advisors working with small to medium-sized businesses across various professions and industries, including accountants, CPAs, financial advisors, business consultants, banking professionals, and sectors such as manufacturing, retail, healthcare, and professional services.

Key Features

Benchmark Client Performance: According to the vendor, ProfitCents provides industry benchmarks to help financial advisors compare their clients with peers in the same industry. Advisors can utilize these benchmarks to identify areas for improvement and provide valuable financial insights.

Improve Clients' Cash Flow: The vendor claims that ProfitCents helps financial advisors identify and prioritize business improvements that can generate more cash for their clients. By analyzing financial performance, advisors can offer better advice and assist clients in enhancing their cash flow.

Streamline Preliminary Analytics: According to the vendor, ProfitCents simplifies the process of conducting preliminary analytics for audits and reviews. It assists accounting firms in meeting audit and review standards by providing ratio analysis, documenting calculations, and generating comprehensive reports.

Scale a Valuation Practice: The vendor states that ProfitCents offers SSVS No. 1 compliant business valuation services to help financial advisors increase their realization rates. It saves time and reduces risk with automated workflow and online document management for valuations.

Industry Data Reports: ProfitCents, according to the vendor, provides accurate benchmarking data by aggregating financial statements from accounting firms, banks, and credit unions. It offers insights into more than 1,400 industries through 60 ratios and metrics, allowing advisors to easily compare businesses and identify industry trends.

Narrative Financial Analysis: The vendor claims that ProfitCents offers a narrative report that simplifies financial statements into plain language narratives. This report helps advisors provide clients with a comprehensive understanding of their financial health, including historical and peer comparisons.

Projection Analysis: According to the vendor, ProfitCents enables advisors to perform "what-if" scenarios, showcasing how changes in the business can impact its financial condition. The report can also provide an informal valuation to support succession planning.

Importing Client Data: The vendor states that ProfitCents offers multiple options for importing client data, including integration with accounting and tax software. Data can be seamlessly imported from software such as Drake, Lacerte, Proseries Tax, QuickBooks, and more.

Easy-to-Use Web-Based Technology: ProfitCents, according to the vendor, is a web-based software that requires no installation or download. It provides an intuitive user experience and can be accessed from anywhere, ensuring easy scalability and accessibility.